Default Bank Account

Default Bank Account: Registration / Modification

While registering multiple bank accounts, the unit holder(s) may specify any one bank account as the 'Default Bank Account' for credit of redemption and dividend proceeds, using Part B of the registration form. If the 'Default Bank Account' is not specified, the fund reserves a right to designate any of the bank accounts as 'Default Bank Account'.

Default Bank Account will be used for payment under circumstances mentioned below.

• No other registered bank account is specified in the redemption request for receiving redemption proceeds,
• A new non-registered bank account is specified in the redemption request for receiving redemption proceeds,
• Maturity proceeds of investments in Fixed Maturity Plans (i.e. FMPs),
• Dividend payouts, if any.

In case of existing investors, the existing bank mandate will be treated as default bank account till the investor gives a separate request to register multiple bank accounts and change the default bank account to any of other registered bank account.

In case of new investors, the bank account mentioned on the purchase application form, used for opening the folio, will be treated as default bank account till the investor gives a separate request to register multiple bank accounts and change the default bank account to any of other registered bank account.